Lake wins exciting Contender clash

first_imgThings finally heated up in the Wray and Nephew Contender series on Wednesday night, as Guyana’s Revlon Lake secured a hard-fought majority decision over Anthony Woods, from the Bahamas, in their five-round, preliminary bout.It was all out action from the first minute, as both men threw caution to the wind and engaged each other in fast and furious action.After five bruising rounds, Jamaican judges Lindell Allen 49-46 and Peter Richards 48-47 voted for Lake, while American judge Eddie Cotton voted 48-47 for Woods. The large and enthusiastic crowd cheered wildly throughout the fight and most agreed with the decision.Two teams of eight boxers representing the Caribbean and the USA started the competition, on March 4, and the ultimate goal is to win the title Wray and Nephew Welterweight Contender 2016 and the first prize of $2-million.Lake went into the fight with eight wins 13 losses and two draws while Woods had nine, wins and 13 losses.Both men came in with aggression on their minds and it was action galore from the first bell, to the delight of the fans, who had been longing for such an approach since the start of the competition. Lake started throwing punches from all angles, some of which landed while others missed the mark. That did not deter him, however, as he kept in an attacking mode throughout.Woods decided to fight fire with fire, and it paid dividends as a hook to the head opened a small cut on the outside of Lake’s left eye. Blood flowed, but instead of being a hindrance, it spurred Lake into more furious action. Woods stayed cool, however, kept attacking, and won the round.Lake was even more aggressive in the second round, and one got the impression that because of the cut, he wanted to try to knock out his man. The elusive and equally aggressive Wood, did not flinch, and he responded with two-fisted counter punching. Lake won this round.Woods used his jabs and hooks effectively in the next round, and his attacking approach kept him in the fight, but Lake never flinched and seemed to have the edge once more. The next two rounds saw the pace remaining at fever pitch as both boxers gave it their all. At the end, both men seemed certain of victory but the judges gave the edge to Lake.He was thrilled to win this time after losing early when he first appeared in the Contender competition.”I am going for the big prize this year. I want it badly, and this is just the start. I am really excited and pleased with this victory,” he added.In the two amateur bouts that preceded the main bout, Shimon Gayle from Boys’ Town defeated Collel Hogg from Sugar Knockout gym on points, while his teammate, Orlando Dixon, also won on points from Samuel Grant from Sugar Knockout gym.last_img read more

The case for corn price rally potential

first_imgShare Facebook Twitter Google + LinkedIn Pinterest By Jon Scheve, Superior Feed Ingredients, LLCThe March corn futures have been range bound for the last 150 days, usually staying within a tight trading range of $3.70 to $3.90. March corn was only above $3.90 for 3 days during that time, and over the last 100 days, March corn has traded below $3.70 for only 3 days.This lack of movement is clearly illustrated in only a 10-cent range for the closing prices of March corn on the last 8 Fridays:1/18 – $3.811/11 – $3.781/4 – $3.8312/28 – $3.7512/21 – $3.7812/14 – $3.8412/7 – $3.8511/30 – $3.78.Current corn fundamentals paint a picture from a macro level that suggests realistic expectations for higher corn price potential. Global position: U.S. corn is the lowest priced corn globally based on prices today. U.S. corn is about 5 cents lower than Argentina and 15 cents below the Ukraine. Upcoming planting acre estimates: Corn needs nearly 3 to 4 million additional acres planted in 2019. Currently the new crop corn/bean ratio is 2.36 : 1. While this should encourage farmers to switch a small number of bean acres to corn, it might not be as much as was assumed was possible two months ago. The wet fall could have prevented some acres from getting the necessary fertilizer or fall field work done when prices were much more favorable to plant corn. Carryout: March corn is trading 30 cents higher today versus a year ago. Last year saw March corn rally 30 cents from this date forward when the carryout was reduced from 2.3 billion at harvest time to 2 billion as the year continued on. Currently the carryout is projected at 1.78 billion and may be reduced to 1.7 billion pending the final yield number from the USDA. Even if the carryout isn’t lowered further this will still be the lowest carryout in 4 years. Demand: Corn demand has been steady the past couple of months. Exports continue to be strong, feed demand has been steady, and the ethanol grind has maybe only slowed a little. There is a good chance all three will offset each other to keep demand the same or maybe even generate a slight increase. Still, until the government can reopen to provide production and usage information, everyone is in the dark.Overall corn has several positive fundamentals going into spring, which could mean good news down the road for farmers. If China would start buying a little corn to offset the trade imbalance, which has been discussed in the trade, the news for farmers could be even better. Does fertilizer buying correlate with corn selling?Several farmers throughout the Midwest asked for my thoughts on selling corn when making fertilizer purchases for their 2019 crop. Evidently these farmers had been approached by fertilizer sales teams trying to show a correlation between corn and fertilizer prices and how they should sell some of their corn when they buy their fertilizer.I don’t have the details of the sales pitch the farmers were given to give any advice there. However, I can look at the effects of purchasing fertilizer on farm operation budgets as well as the correlation between corn and fertilizer prices. Comparing fertilizer and corn prices the same wayIn most years fertilizer prices don’t change more than $100 per ton year over year. While $100 per ton may sound like a lot, the price per acre is low and usually only amounts to about 11 cents per bushel at most on the budget. I calculate all farm operation budgets on a cost per bushel, so prices are comparable to each other (i.e. apples to apples). That small of an effect on the cost of production doesn’t compare to the more than 85-cent range that corn futures had during the last growing year.There are many things that can affect fertilizer prices, here are just a few:Fertilizer production inputs are a major factor. For example, natural gas is the main ingredient in many fertilizers, so big shifts in natural gas prices can change the demand structure. But, there are also substitute fertilizers not containing natural gas that could increase or decrease production to offset big price adjustments.Acre shifts could have an impact, but a change bigger than 5% in either direction is rare. While a 5% shift could send an initial price spike or dip in the short-term, the impact long-term should be minimal.Seasonally fertilizer prices have highs and lows pending demand. Just as there are seasonal trends for corn that would suggest that prices will be the lowest at harvest there seems to be a season pattern to fertilizer that happens when farmers aren’t usually applying the product. Usage correlation between fertilizer and cornThe total tonnage of fertilizer used per acre is 20 to 70 times less than the total tonnage of grain harvested from the same acre, depending on the type of fertilizer applied. So, I don’t see how this would be a relationship between the price of either commodity. The sheer size difference is just too big to be relatable. Plus, in reviewing historical data, I couldn’t find any type of trend to support a price correlation between the two commodities.So no, I wouldn’t adjust my corn marketing strategy to align with my fertilizer purchasing. They are different commodities with separate and independent price fluctuations. Instead, I would just buy fertilizer when it looks like the right price at the time of year it makes sense for my operation. And I don’t see any reason to sell some corn, just because I bought fertilizer on the same day. Please email jon@superiorfeed.com with any questions or to learn more. Jon grew up raising corn and soybeans on a farm near Beatrice, NE. Upon graduation from The University of Nebraska in Lincoln, he became a grain merchandiser and has been trading corn, soybeans and other grains for the last 18 years, building relationships with end-users in the process. After successfully marketing his father’s grain and getting his MBA, 10 years ago he started helping farmer clients market their grain based upon his principals of farmer education, reducing risk, understanding storage potential and using basis strategy to maximize individual farm operation profits. A big believer in farmer education of futures trading, Jon writes a weekly commentary to farmers interested in learning more and growing their farm operations.Trading of futures, options, swaps and other derivatives is risky and is not suitable for all persons. All of these investment products are leveraged, and you can lose more than your initial deposit. Each investment product is offered only to and from jurisdictions where solicitation and sale are lawful, and in accordance with applicable laws and regulations in such jurisdiction. The information provided here should not be relied upon as a substitute for independent research before making your investment decisions. Superior Feed Ingredients, LLC is merely providing this information for your general information and the information does not take into account any particular individual’s investment objectives, financial situation, or needs. All investors should obtain advice based on their unique situation before making any investment decision. The contents of this communication and any attachments are for informational purposes only and under no circumstances should they be construed as an offer to buy or sell, or a solicitation to buy or sell any future, option, swap or other derivative. The sources for the information and any opinions in this communication are believed to be reliable, but Superior Feed Ingredients, LLC does not warrant or guarantee the accuracy of such information or opinions. Superior Feed Ingredients, LLC and its principals and employees may take positions different from any positions described in this communication. Past results are not necessarily indicative of future results.last_img read more

Odisha to recognise its young talent

first_imgAmid widespread criticism from the Opposition, Chief Minister Naveen Patnaik on Monday launched a programme called “Mu Hero-Mu Odisha” (I am Hero-I am Odisha), aimed at identifying and giving recognition to “young achievers” of the State. The Opposition has termed the “controversial” programme another political gimmick of the ruling BJD.last_img